Compliance & Risk Management

ESG risk management – why law firms of all sizes should act now

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Strategy & Leadership] March 25, 2021

Law firms ignore ESG risks at their peril and should, in fact, embrace this area of compliance as a potential point of competitive advantage for their business and implement a well-considered strategy that contributes to sustainability, writes Annette Beashel. The area of compliance known as ESG (environmental, social and governance) is a hot topic and […]

Waking up to ‘woke’ – analysing the MinterEllison email conflict

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Marketing & Business Development,Strategy & Leadership]

Controversy surrounding MinterEllison and its decision to advise Attorney-General Christian Porter raises questions about law firms’ client selection processes and the impact those choices could have on recruiting millennial and Gen Z talent in the years to come, writes Trish Carroll. A lot has been written in recent weeks about the email matter involving now-ex […]

Risk training – you have to do it, but are you wasting your time and money?

[Australasian Law Management Journal,Compliance & Risk Management,General Management,People Management(HR),Strategy & Leadership] October 30, 2020

There is a clear role for risk-management training to contribute to better performance and culture within law firms, but it has to be part of a broader risk and compliance framework, writes Annette Beashel. There is a lot of money, time and effort being spent on risk training for law firms. Most continuing legal education […]

Social engineering – the human factor in cyber risk

[Australasian Law Management Journal,Compliance & Risk Management,General Management,People Management(HR),Technology] September 23, 2020

Staff training to raise awareness of cybersecurity threats is essential for law firms at a time when scammers are using sophisticated social engineering strategies to steal data and carry out fraud, writes Simone Herbert-Lowe. Cybercrime is predicted to lead to the biggest transfer of wealth in human history. In Australia, cybersecurity incidents are estimated to […]

Why delegation and supervision should be on your firm’s agenda

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Strategy & Leadership] June 27, 2020

Supervision requirements are often seen as a drain on potential fee-earning within law firms, but it is a legal requirement that can deliver real value and advantages if done correctly, writes Merinda Timpany. We know why we need to supervise our teams, but sometimes it is easier said than done. That challenge has become even […]

Home truths for all after ransomware attack hits celebrity law firm

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Technology] May 28, 2020

A potentially costly ransomware attack on a major American law firm is a reminder for all firms to educate their employees about cyber risks at a time when more people are working on unsecured home networks during the COVID-19 crisis, writes Simone Herbert-Lowe. In recent months, the media has reported extensively on cyberattacks targeting companies […]

Paper chase – bundy clocks, toilet paper and award compliance

[Australasian Law Management Journal,Compliance & Risk Management,Finance & Accounting,General Management,Strategy & Leadership] March 26, 2020

Concerns over the underpayment of workers is a complex matter from which law firms are not immune, but the key is to be proactive over pay and conditions for staff and to follow a checklist to ensure that the fine detail is being addressed, writes Leonie Green. What a strange world we are living in […]

The big risk factors with flexible working – and how to manage them

[Australasian Law Management Journal,Compliance & Risk Management,General Management,People Management(HR)] February 16, 2020

Workplace flexibility has become a seemingly non-negotiable offering for employees in the legal services sector, but this trend comes with risks that have to be addressed or mitigated through smart management, writes Merinda Timpany. In the year 2020, management teams understand that workplaces need to offer flexible working options to our people. This is especially […]

The insurance jigsaw puzzle – how different policies respond to cyber events and email fraud

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Technology] January 29, 2020

Lawyers face more risks that most professionals because of their duties around managing money held in trust, so it is essential that firms understand their particular threats and take out appropriate insurance cover that can protect them from malicious attacks, writes Simone Herbert-Lowe. Snapshot: Lawyers’ professional indemnity policies usually provide broad coverage for third-party claims, […]

Latest news – American legal market insights; Guidance on crowdfunding risks; Salary rises likely in 2020

[Australasian Law Management Journal,Compliance & Risk Management,Finance & Accounting,General Management,Strategy & Leadership] January 18, 2020

US firms fare well, but headwinds looming A new report, the 2020 State of the Legal Market, provides a timely snapshot of legal practice trends in the biggest market of all, the United States. Produced by Thomson Reuters in conjunction with The Centre on Ethics and the Legal Profession at Georgetown University Law, it shows […]